Slowly but surely, the casino industry has grown everywhere around the world, and Sweden isn’t an exception. The huge diversity of online games, bonuses, table games, and other attractive benefits have managed to pull many people into the grip of online gambling, and the latter is now much more preferred than playing at land-based facilities.
However, due to recent changes in regulations, it’s believed that the industry’s revenue will be 1 billion euros by 2028. However, other experts predict that the iGaming industry will continue to grow.
Sweden Online Gambling Market
The online gambling market has been doing well in the past few years despite the revenue drop in 2023. The iGaming industry is constantly developing, and the number of online casinos in Sweden is constantly growing. It is believed that due to the relatively high income in most households, people tend to spend more on having fun at online gambling platforms. The strong economy of the country, as well as the reasonable regulations that take place, lead to a constantly growing market that is unlikely to go down.
Legal Online Gambling Activities in Sweden
Like many other countries, the available legal online gambling activities in Sweden include poker, slots, blackjack, roulette, scratch cards, bingo, and many other games. In addition, online sports betting is also permitted for Sweden residents who are not under-aged. According to the current regulations, there aren’t that many restrictions for gamblers in terms of legal gambling activities. Between 60% and 80% of the population admit that they’ve engaged in gambling of some kind.
Revenue of the Swedish iGaming Market
As mentioned earlier, the iGaming industry in Sweden is still blooming. As more people focus on virtual casinos, many land-based locations lose customers and don’t generate enough profit to keep business going.
With that, it’s worth mentioning that Svenska Spel has decided to close casinos in Malmö and Gothenburg. This results in serious issues, such as many employees losing their jobs. Profitability has been a struggle, which is why the company has decided to shut down several locations.
Online platforms are performing amazingly well compared to land-based casinos. Gambling operators reported revenue of €2.4bn in 2022, a 5.1% rise from the previous year. Recently, however, the Swedish government decided to ban all gambling operators from offering credit.
This may significantly impact the iGaming industry and cause revenue to be reduced in the long term. In 2023, the revenue fell to €2.42 billion, and many think that it will drop even more by the end of 2028. Nonetheless, gambling experts are positive that despite the last changes in the law, the Swedish iGaming market’s revenue will increase significantly.
Swedish iGaming Market: Before vs. Now
In the beginning, people mainly gambled in land-based casinos, as there were no other options available. Online gambling platforms weren’t accessible to Swedish players, but everything changed at the end of 2018.
As technology advanced and online casinos started to grow in popularity, customers from the country were also allowed to register at licensed platforms with hundreds of games and tempting deals.
The Future of Online Gambling in Sweden
As of now, Sweden allows users to join numerous prominent online casinos, indicating a highly competitive industry landscape. Considering the broad recognition of the leading brands, it’s likely for them to solidify their positions even more, while smaller companies may have a difficult time gaining popularity in the country.
Regulatory adjustments may also be on the horizon, which can lead to significant changes. Nonetheless, the latter is simply a suggestion, as nothing has been announced yet. Furthermore, gambling operators may further improve their services and offer a wider range of gaming products to satisfy the needs of as many gamblers as possible.
Pros and Cons of Online Gambling in Sweden
While the iGaming industry enjoys huge popularity, the risk of developing gambling addiction remains. Millions of users engage in online casino activities, which can be quite concerning. The good news is that the Swedish regulators prioritize promoting responsible gambling and obligate all licensed operators to provide players with tools like self-exclusion and deposit limits.
In terms of benefits, customers have endless options to choose from. The diversity of gaming products on every website is enormous, providing everyone with the chance to play games they’re truly fascinated with. Moreover, online casinos’ most significant advantage is the presence of tempting promotions that are not available at physical establishments. Last but not least, those who gamble at casino sites don’t have to leave their homes to test their luck.
How to Find a Legal Online Gambling Site in Sweden
The Swedish Gambling Authority oversees casino fairness and is responsible for safeguarding the overall safety and reliability of gambling. When seeking a reputable platform, it’s crucial to verify its licensing and any other additional certificates. Legitimate and regulated companies share relevant information about their policies and methods for maintaining a safe and fair environment.
All operators undergo various checks to prove their dependability and must adhere to a myriad of regulations to keep their licences. The most important one is, of course, to only offer their services to customers of legal age. Moreover, top-rated companies must ensure their clients that no data will be shared with third parties without users’ consent. Here’s a short list of all the qualities a good casino must possess:
- A valid gambling licence from the Swedish Gambling Authority
- A valid SSL certificate
- Fair game policy
- Personal Data Protection Policy
- Bonuses with reasonable requirements
- Games from famous providers with excellent reputation
Conclusion
Despite the challenges faced by land-based casinos, the industry maintains a resilient stance. Although some facilities have closed their doors, the sector as a whole remains robust, and it’s likely that a substantial annual growth rate will occur. While opinions on the potential revenue of iGaming in Sweden vary, we believe that it will be much higher than what some experts say. New gambling sites emerge on a regular basis, which further draws customers’ attention and allows them to diversify their experience whenever they want.